🗓️ Swiggy’s countdown to public debut

The most interesting news selected specially for you! 20 August 2024 [View in Browser]( Hello, It’s a space race. This time around, it’s commercial space missions that are making the news. Later this month, SpaceX will attempt to launch its [next private mission]( from Florida, and it will be the company’s first attempt at a spacewalk. Closer home, ISRO's latest satellite launch vehicle 'SSLV' is the first rocket in its category to be ready for commercialisation. Two others–'Vikram' from Skyroot and 'Agnibaan' from Agnikul Cosmos–are expected to vie for market share to place [small satellites in orbit](. In another notch on the space exploration belt, the first test flight of India’s crewed mission Gaganyaan is scheduled for December 2024. Moving on, Adani Group said it has enough capital to cover [30 months of debt]( payments as it tried to allay concerns over its liquidity status amid the Hindenburg fallout. Lastly, ever wondered how much money would be raised if governments across the world taxed the ultra-rich? The Tax Justice Network campaign group says even a modest tax could raise over [$2 trillion](. In today’s newsletter, we will talk about - Swiggy’s countdown to public debut - Spreading smiles in Sonipat - Making women’s footwear sustainable Here’s your trivia for today: Who is the only 3-time recipient of the Nobel Prize? --------------------------------------------------------------- Foodtech Swiggy’s countdown to public debut Swiggy is one step closer to its highly anticipated Rs 10,400 crore ($1.28 billion) IPO. The food delivery and quick commerce platform, one of India’s most-valued unicorns, will most likely file its draft red herring prospectus with India’s markets regulator by as early as the first week of September, two people aware of the matter told YourStory. Offering timeline: - Swiggy is moving to the DRHP phase, which should be filed by the first week of September. Once it’s filed, the company may be looking at a two-month timeline for SEBI clearance, one of the two people told YourStory, requesting anonymity. - Swiggy is eyeing a valuation of 60% of Zomato’s market cap, given its profitability and revenue, the person added. - Meanwhile, Swiggy’s quick commerce business Instamart, which competes with Zomato’s Blinkit and Zepto, said it clocked higher [orders per minute]( (OPM) on Monday, beating its previous record high from the day before amid Raksha Bandhan festivities in the country. [Read More]( --------------------------------------------------------------- Social Impact Spreading smiles in Sonipat Jain’s drive for social welfare was active even when he was in college, pushing him towards ensuring that children in urban slum settlements in his home city of Sonipat in Haryana (NCR) had an adequate education and opportunities. Today, his NGO Spread Smile Foundation, which started by running evening pathshalas for children, now runs several initiatives to help the underprivileged. Education for all: - Spread Smiles Foundation’s flagship initiative Vidyafal began with around 20 children, wherein they were taught English and Hindi alphabets, counting, oral activities, and the basic education necessary for them to enrol in schools in the new academic year. - Currently, the NGO has four pathshalas where more than 400 students attend these classes. - Beyond education, it also has other initiatives including special courses in sewing for girls, a charitable dispensary, and its nutrition drive Poshan, which ensures students are provided with food kits and provides nutrition kits to 200 tuberculosis patients every month. [Read More]( --------------------------------------------------------------- Women Entrepreneurs Making women’s footwear sustainable Ashiya’s early experience of watching limitations placed on the women in her community in Odisha, including her mother, and her father encouraging her to dream big, fuelled her determination to become financially independent through entrepreneurship. After working with Versace in New York, she entered the footwear industry and started Monrow Shoes in 2019 to make sustainable and environment-friendly products. Made for India: - While starting out, Ashiya and her six-member team collaborated with orthopaedic specialists, scanned the feet of 3,000 Indian women, and developed shoes that were specifically designed for the unique structure of Indian feet. - In addition to focusing on comfort, Ashiya decided she would make sustainability a core value of Monrow and work with vegan materials for her shoes to offset the environmental impact of leather production. - Beyond the pandemic, the company also faced the uphill task of raising capital and navigating the male-dominated venture capital ecosystem. The brand has raised Rs 20 crore so far. [Read More]( --------------------------------------------------------------- Application open for Tech30 you a visionary founder at the helm of a startup poised to redefine industries? Look no further than Tech30, the ultimate platform to showcase your innovation. Tech30 is more than just a recognition; it's a catalyst for the future. We're on a mission to bring together India's brightest tech minds to unravel the next big thing. If you're building groundbreaking solutions that have the potential to reshape our world, Tech30 is your launchpad. Join us as we celebrate the pioneers driving India's tech revolution. [Apply for Tech 30]( --------------------------------------------------------------- From the CapTable The invisible battery-swapping network enabling EV adoption beyond India’s metros According to research by market intelligence firm P&S Intelligence, India's formalised battery-swapping market is currently valued at $17.7 million. At present, the ecosystem is led by private equity-funded players such as Battery Smart, RACE Energy, and Taiwan’s Gogoro, which have launched self-service battery swapping stations and offer either subscriptions or pay-as-you-go options. The current infrastructure rollout, however, is primarily concentrated in metropolitan cities and larger urban centres such as Delhi NCR, Bengaluru, and Mumbai.This leaves the likes of Manu Rana, a six-seater e-rickshaw driver in Jaipur, in the lurch. “The few swapping stations in Jaipur are really far out. You usually have to take a 10-12-kilometre detour to reach them. Even then, they might be down due to power cuts or the batteries aren’t available because they’re being diagnosed,” he adds.Manu and many others like him who live beyond India’s metros and rely on EVs either for their commute or livelihood aren’t simply waiting for India’s charging infrastructure to catch up. Instead, they’ve turned to local shops that offer battery-swapping as a service, charging anywhere from Rs 100-150 per swap. Such stores are mushrooming all over the country, enabling the adoption of EVs in geographies that are untouched or underserved by India’s formal EV charging network. Key takeaways: - 70% of India’s formalised, tech-led battery swapping market is concentrated in metropolitan cities. - Companies say it’s hard to set up infrastructure in smaller towns and cities because of expensive real estate, lack of subsidies, and energy issues. - But a network of informal players have stepped into the breach, providing battery swapping services out of auto repair shops, automobile reseller outlets, etc. - They offer these services for as little as Rs 100-150 per swap, and use the business as a way to upsell their other services [Continue Reading]( --------------------------------------------------------------- News & Updates - [AI battle:]( AMD on Monday said it plans to acquire server maker ZT Systems for $4.9 billion as the company seeks to expand its portfolio of artificial intelligence chips and hardware and battle Nvidia. - [Leadership change:]( Estée Lauder Chief Executive Officer Fabrizio Freda plans to retire at the end of June 2025, the company said in a statement. Freda, who has been in the post since 2009, will continue to lead the company until a successor is named, the statement added. - [Gold rush:]( Gold eased on Monday after powering to an all-time high above the important $2,500 per ounce level in the last session on strong safe-haven demand and expectations of an imminent U.S. rate cut. Here's what else we have for you The Indian dream:Vananam Building a conglomerate rooted in Bharat How do you build in Bharat, by Bharat, for the world? In an exclusive chat with Shradha Sharma, Vananam co-founders Keshav Inani and Mahendra Rathod talk about building a deeply Indian conglomerate. Unlike many tech-focused startups, Keshav and Mahendra's business philosophy revolves around identifying and scaling ventures with a high potential for profitability. Catch the key takeaways from the insightful conversation here. [Know More]( --------------------------------------------------------------- From Vision to Skyline: Kishore Reddy's Journey with Mana Projects | Redefining Bengaluru's Real Estate Horizon In association with Mana Projects [📈] From hospitality to real estate, Kishore Reddy's journey with Mana Projects is a testament to entrepreneurial spirit and dedication. Over 24 years, his focus on quality and customer satisfaction has propelled Mana Projects to the forefront of Bengaluru's dynamic market. Learn how Reddy's leadership continues to set new benchmarks in architecture and innovation. [🏡][🔑] [Watch Now]( --------------------------------------------------------------- Asanfiy is simplifying payroll management and HRMS for startups, SMBs globally In association with Asanfiy In a world with complex regulations, varied work models and cultural differences, Asanify has one message: Keep it Simple. The HRtech startup offers a seamless and easy to use platform that automates people processes, from onboarding, payroll, leave management and more. [Know More]( --------------------------------------------------------------- Superace’s UPDF is tapping AI to transform PDF productivity In association with Superace Software Technology UPDF is an all-in-one PDF solution that taps the power of AI and aims to make your PDF workflow as smooth as possible. The versatile tool offers features such as editing, annotations, converting, and page organizing. [Know More]( Did you know? Who is the only 3-time recipient of the Nobel Prize? Answer: International Committee of the Red Cross (ICRC). We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. 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